Acadian Asset Management LLC lowered its stake in Brightcove Inc. (NASDAQ:BCOV) by 11.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 552,972 shares of the software maker’s stock after selling 72,840 shares during the period. Acadian Asset Management LLC owned 1.39% of Brightcove worth $5,663,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of BCOV. Marshall Wace North America L.P. purchased a new position in shares of Brightcove in the first quarter worth $74,000. SG Americas Securities LLC raised its holdings in shares of Brightcove by 52.1% in the second quarter. SG Americas Securities LLC now owns 21,303 shares of the software maker’s stock worth $168,000 after buying an additional 7,295 shares during the last quarter. Quantitative Systematic Strategies LLC purchased a new position in shares of Brightcove in the second quarter worth $94,000. WINTON GROUP Ltd raised its holdings in shares of Brightcove by 32.1% in the second quarter. WINTON GROUP Ltd now owns 71,023 shares of the software maker’s stock worth $560,000 after buying an additional 17,259 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of Brightcove by 10.3% in the second quarter. Russell Investments Group Ltd. now owns 64,878 shares of the software maker’s stock worth $500,000 after buying an additional 6,036 shares during the last quarter. 84.39% of the stock is owned by institutional investors and hedge funds.
A number of research firms have issued reports on BCOV. B. Riley raised their price target on shares of Brightcove from $12.00 to $16.50 in a report on Thursday, October 22nd. BidaskClub cut shares of Brightcove from a “strong-buy” rating to a “buy” rating in a report on Monday, November 2nd. Northland Securities raised their target price on shares of Brightcove from $16.00 to $20.00 and gave the stock an “outperform” rating in a report on Thursday, October 22nd. Lake Street Capital raised their target price on shares of Brightcove from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, October 22nd. Finally, Colliers Securities raised their target price on shares of Brightcove from $12.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, October 14th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $17.70.
BCOV opened at $13.40 on Friday. Brightcove Inc. has a fifty-two week low of $5.44 and a fifty-two week high of $14.11. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.84 and a current ratio of 0.84. The company has a fifty day moving average of $12.18 and a two-hundred day moving average of $9.94. The stock has a market capitalization of $533.40 million, a price-to-earnings ratio of -36.22, a PEG ratio of 12.36 and a beta of 0.72.
Brightcove (NASDAQ:BCOV) last released its quarterly earnings data on Wednesday, October 21st. The software maker reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.13. Brightcove had a negative net margin of 7.61% and a negative return on equity of 0.21%. The company had revenue of $49.08 million during the quarter, compared to analysts’ expectations of $46.31 million. During the same quarter in the previous year, the company earned $0.06 earnings per share. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, equities research analysts forecast that Brightcove Inc. will post 0.07 earnings per share for the current year.
Brightcove Inc provides cloud-based services for video. Its flagship product include Video Cloud, an online video platform that enables its customers to publish and distribute video to Internet-connected devices. The company also offers Video Marketing Suite, a suite of video technologies to drive awareness, engagement, and conversion; Enterprise Video Suite, an enterprise-class platform for internal communications, employee training, live streaming, marketing, and e-commerce videos; and OTT Flow, a service for media companies and content owners to deploy direct-to-consumer, live and on-demand video services across platforms.
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